European Commission President Ursula von der Leyen said she will travel to Scotland this weekend to meet with US President Donald Trump, as both sides aim to reach a trade deal before the August 1 deadline when 30% tariffs on the bloc's exports are due to take effect. After months of negotiations and back-and-forth diplomacy between Brussels and Washington, D.C., the two sides have zeroed in on a deal last week that will see the EU face 15% tariffs on most of its trade. Limited exceptions are expected to apply to aviation, some medical devices and generic drugs, some alcoholic beverages,...
The USD/CHF pair remained depressed for the fourth consecutive day and touched a fresh low since September 2011, around the 0.8025 region during the Asian session on Thursday (6/26). The US Dollar (USD) selling bias remained unabated amid concerns about the future independence of the Federal Reserve (Fed), which in turn, was seen as a key factor weighing on the USD/CHF pair. US President Donald Trump stepped up his criticism of Fed Chairman Jerome Powell for not cutting interest rates, calling him a "bad guy". Trump also floated the idea of firing Powell and said that he is considering...
Oil prices edged higher on Wednesday, extending gains from the previous day as a bigger-than-expected drop in US crude stockpiles signalled strong demand, while investors remained cautious about the Iran-Israel ceasefire and stability in the Middle East. Brent crude futures rose 15 cents, or 0.2%, to $67.83 a barrel by 0330 GMT. U.S. West Texas Intermediate (WTI) crude futures rose 20 cents, or 0.3%, to $65.12 a barrel. Both benchmarks rose nearly 1% on Wednesday, recovering from losses earlier in the week after data showed strong U.S. demand. "Some buyers are liking the strong demand...
Gold prices edged up on Thursday, lifted by a weaker dollar and rising uncertainty after a report showed U.S. President Donald Trump was considering replacing Federal Reserve Chairman Jerome Powell as early as September or October. The report raised concerns about the U.S. central bank's future independence, boosting demand for safe-haven bullion. Spot gold rose 0.2% to $3,339.20 per ounce, as of 0242 GMT. U.S. gold futures rose 0.3% to $3,353.10. The dollar (.DXY), however, fell to its lowest since March 2022, making dollar-priced bullion cheaper for overseas buyers. Powell told a U.S....
The Japanese Yen (JPY) remained firm against the broadly weaker US Dollar (USD) and re-approached weekly highs during the Asian session on Thursday (6/26). Investors appear convinced that the Bank of Japan (BOJ) will raise interest rates again amid signs of expanding inflation in Japan. In contrast, the Federal Reserve's (Fed) latest projections and the dot plot point to two more rate cuts before the end of the year. This marks a significant divergence from the BOJ's hawkish expectations and is seen as a key factor behind the JPY's outperformance against its American...
The dollar weakened amid rising bets on a U.S. interest-rate cut as expectations grew that the next Federal Reserve chairman would likely ease monetary policy earlier than currently anticipated. A Bloomberg greenback gauge fell to a three-year low after the Wall Street Journal reported that President Donald Trump may announce a replacement for current Chairman Jerome Powell in September or October. Traders saw the news as a signal that an early rate cut is becoming more likely, given that Trump has repeatedly pressed Powell to lower borrowing costs. "A Trump nomination would increase the...
China's official NBS Manufacturing PMI increased to 49.7 in June 2025 from May's 49.5, matching market expectations while marking the third consecutive month of contraction in factory activity.
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Both the STOXX 50 and STOXX 600 hovered around the flatline on Friday, as investors adopted a cautious stance ahead of further developments in trade talks between US President Trump and Chinese...
President Donald Trump locked horns with Federal Reserve Chair Jerome Powell during a rare presidential visit to the U.S. central bank on Thursday, criticizing the cost of renovating two historical...